$BTC
Google researcher Craig Gidney reduced the quantitative requirements for Bitcoin penetration by 95%, pointing out that the hardware requirements for 2048-bit RSA decryption have decreased significantly.
- Gidney's previous estimates were putting the minimum at 20 million noisy qubits, but the new forecast requires less than one million. This reduction in the arithmetic load represents a significant jump in quantum capacity, although it may take several days instead of a few hours.
- These discoveries come at a time when concerns are growing about the pace of development of quantum computing, as major financial institutions update their disclosures. BlackRock recently referred to quantum computing as a fundamental risk to Bitcoin's exchange-traded investment fund product, IBIT.
Despite these concerns, some experts believe that the cryptocurrency sector still has time to adjust to potential risks.
